(PDF) The Tourism Industry - An Overview

REFLECTION REPORT

TABLE OF CONTENTS
PART 2- RESEARCH REFLECTION REPORT...........................................................................1
REFERENCES................................................................................................................................2

PART 2- RESEARCH REFLECTION REPORT
Research methods and
processes
For this research I have identified various information regarding Malta
and the industry of accommodation. Malta is a small island country in
Mediterranean Sea as it lied at the south of island of Sicily, Italy. It has the
attractive destination which attract many tourist towards this country. At the first
place, I have decided to establish the business of the accommodation which will
enhance the customer experience and provide them services of accommodation
while their stay in Malta. This business idea is established to provide services to
the customers as well as to earn profit. I have formulated the planning strategies
which will help in attracting the customers towards the business which will leads
to the increase in the profitability and market share of the firm. The business idea
is to provide short term and long term let option to the travellers and the foreign
workers.
Moreover, I have decided the name of the Business as YBDG
accommodation which will provide short term and long term let options. The
Cost consideration of the business is unique as it will provide development in
facilities of accommodation, staff recruitment and need for effective marketing
strategies. Moreover, In order to identify the target market the data is been
gathered from different sources which has provided information about the
customers which will be attracted towards the services of accommodation. I have
undertaken the market survey, research and strategy formulation to derive profit
from the business. I have given high importance for creating the structure for the
reports it has included the research method in which I have gathered the
information through the secondary sources. Also, I have use the online marketing
to promote the products and services of YBDG accommodation to attract the
large number of customers from different regions. Moreover, YBDG is at initial
stage so there has been 12 employees which include the accountant, cleaner,
security Guard, IT technician, Online reservationist, Managers etc. Also, In have
provided a brief job description about the job available in the YBDG
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accommodation and to provide knowledge and understanding to the people about
the post and their duties and responsibilities. For the purpose of this research I
have uses the research methods which has assisted in completing this report in the
effective manner. Furthermore, for the purpose of risk assessment I have
identified the various risk which are stated as follows :
Identification of risk Risk Likely
Raising funds for the
business
serious medium
license risk serious medium
Natural calamities medium
Delay in providing
services
serious low
Failure in development
of connection with the
agents
serious low
Market research serious medium
safety to the employees serious low
Maintenance of room
and apartments for
rental purpose
serious medium
Literature and sources REFERENCES
Books and Journals
Dragičević, M. and et.al., 2015, January. Diffuse hotels as innovative form of
accomodation facilities. In 2nd International Multidisciplinary Scientific
Conference on Social Sciences and Arts SGEM2015.
Dragicevic, M. and et.al., 2015. DIFFUSE HOTELS AS INNOVATIVE FORM
OF ACCOMODATION FACILITIES.
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Jenčková, J., 2017. Implementation and regional development of hotel
management systems by accomodation facilities in the Czech Republic.
Lanya, I. and et.al., 2017, December. Analysis of Subak Landuse Change Due to
Tourism Accomodation Development in North Kuta Sub-district,
Badung Regency, Indonesia. In IOP Conference Series: Earth and
Environmental Science (Vol. 98, No. 1, p. 012024). IOP Publishing.
Putriya, A. R. and et.al., 2019, March. Peer-to-Peer Accomodation Service
Process: A Framework of Service Blueprint. In 12th International
Conference on Business and Management Research (ICBMR 2018).
Atlantis Press.
Russo, A. S. and Alturas, B., 2017, June. Online service perceived value travel
and holiday accomodation context. In 2017 12th Iberian Conference on
Information Systems and Technologies (CISTI) (pp. 1-6). IEEE.
Zehrt, L. R., 2015. A Special Delivery: Litigating Pregnancy Accomodation
Claims after the Supreme Court's Decision in Young v. United Parcel
Service, Inc. Rutgers UL Rev.. 68. p.683.
Marcoz, E.M. and et.al., 2016. Benefits from service bundling in destination
branding: The role of trust in enhancing cooperation among operators in
the hospitality industry. International Journal of Tourism
Research. 18(3). pp.260-268.
Yoon, Y. S. and Lee, H. W., 2017, July. Perceived risks, role, and objectified
trustworthiness information in the sharing economy. In 2017 Ninth
International Conference on Ubiquitous and Future Networks
(ICUFN) (pp. 326-331). IEEE.
Suryawardani, I. G. A. and et.al., 2016. Implementation of Social Accounting
Matrix in Calculating Tourism Leakage of Accomodation in
Bali. International Journal of Applied Business and Economic Research.
14(13). pp.9377-9405.
Roman-Marquez, A., 2018. THE NEW ANDALUSIAN DECREE ON PRIVATE
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HOUSES FOR TOURIST USE. ANALYSIS UNDER THE LIGHT OF
THE EUROPEAN AGENDA FOR THE COLABORATIVE
ECONOMY. Cuadernos de Turismo. (41). pp.739-742.
Chatzigeorgiou, C. and Simeli, I., 2017. Perception of service quality in
agrotourism accommodations: Impact on guest loyalty and re-visit
intentions.
Uran Maravić, M., 2017. Accomodation classification system in
Slovenia. Tourism and hospitality management. 23(2). pp.235-249.
Aas, T. H., Breunig, K. J. and Hydle, K. M., 2017. Exploring new service
portfolio management. International Journal of Innovation
Management. 21(06). p.1750044.
Coomber, R. and et.al., 2018. Burgeoning Recognition And Accomodation Of
The Social Supply Of Drugs In International Criminal Justice Systems:
An 11 Nation Comparative Overview. International Journal of Drug
Policy.
Iveson-Brown, K. and Raistrick, D., 2016. A brief Addiction Recovery
Questionnaire derived from the views of service users and concerned
others. Drugs: Education, Prevention and Policy. 23(1). pp.41-47.
Douglas, T., 2017. Going above and beneath the call of duty: the luck egalitarian
claims of healthcare heroes, and the accomodation of professionally-
motivated treatment refusal.
Ferreira, E., 2016. Accomodation Managers' Perceptions Towards Disability
Service Provision (Doctoral dissertation, Nelson Mandela Metropolitan
University).
Online
Accommodation linen. 2018. [Online]. Available through
<https://www.alsco.co.nz/products/linen/accommodation-linen/>.
Bathroom. 2016. [Online]. Available through <http://www.thewowdecor.com/35-
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best-contemporary-bathroom-design-ideas/>.
Wardrobe. 2017.[Online]. Available through :<https://www.indiamart.com/fine-
decor/modular-wardrobes.html>
Room in accommodation. 2016. [Online]. Available through
:<https://www.youtube.com/watch?v=opqO7UuB-tA>
Hotel accommodation. 2016. [Online]. Available through
:<https://behotelmalta.com/en/our-rooms/>
Product life cycle chart. 2016. [Online]. Available through
:<https://www.123rf.com/photo_13767899_product-life-cycle-chart-marketing-
concept-.html>
Your Knowledge I have used the services which will provide the unique experience to the
customers that consisted of Short and long term Let options. I have got the
knowledge about the services which will be beneficial to offer to customers in
order to enhance the experience of the customers and attract them unique
experience by serving with the best services. The long term let option is the
service which is not provided by the other accommodation company which is
beneficial for the firm as it will attract the many customers towards the business.
The rooms that will provide to the customers will have an attractive interior and
will provide the guest with basic amenities which will consist of towel, soap,
pillow etc. That will provide the guest with best experience at the accommodation
and will retain them in business for the long run.
Also, I have provided various other services other than this in the YBDG
accommodation that consisted of Air conditioner and parking area. Also, it will
provide free Wi-Fi and television for the entertainment purpose. The YBDG By
accommodation will provide the guest with the cooking utensils to provide them
space to cook for themself to have home like feeling while their stay at
accommodation. Also, The customer will be targeted on the basis of their needs
such as the short term let options will be available for those guest which are
tourist and will stay in Malta for the short period. Whereas as the long term let
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option is for those customers which are foreign workers or Maltese Nationalise.
Also, the accommodation is provided at the lower cost than the market prices for
the accommodation charged in the industry. The services at this accommodation
will provide at the lower cost with the high quality of services that will assist in
attractive more customers towards the accommodation. Moreover, the customers
will be offer by discount and offers to the repeat visit to provide them best
experience with the accommodation company.
The specific feature of YBDG accommodation is long term let option
provided by this company. The decor and interior of the accommodation is
designed in the attractive manner to gain the attraction of the customers towards
the business which will assist in enhancing the customer experience and
profitability of the business. There is window of opportunity for the YBDG
accommodation as it can increase its services to enhance their profitability.
According to the feasibility research conducted for identifying the feasibility of
the business idea. It has provided knowledge of the ambition and ability which is
required for the success implementation of the business idea. I have formulated
the aims and objectives on the basis of which the feasibility research in conducted
and decided the research design. The research methodology is chosen to conduct
the research in which I have used the secondary data collection method to identify
the information required for the establishment of the business In Malta. The
research is conducted in the detailed manner and it has also included the cost
concept and the financial plan for the business to determine the profit that will be
generated by this business and the effectiveness of business idea.
Your learning The long term let option provided by YBDG accommodation will help in
attracting the local and people residing in Malta due to work. So, the YBDG
accommodation by working more on this business idea and providing the
additional services which will assist in gaining more custom er base towards the
firm. The Customers when thinking of the accommodation require that the
accommodation company provide them with the high quality services with the
lower prices to enhance their experience. The feasibility of the industry is
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identified through the use of competitor analysis and the industry analysis with
the hep of porter five forces model. I have selected the unique idea for the
business which is providing the long term let option. I found that YBDG
accommodation is at the introductory stage so to make the business effective
development I have performed appropriate analysis of business scenario and have
applied the models to gain better understanding of the industry and the
competitiveness. I have performed the porter five forces analysis of in relation
with the hospitality industry because accommodation is the part of this industry.
The accommodation facility provided by the long term let option is profitable and
the firms involved in this industry foes not provide the option of the long term
which is competitive advantage for the business. Moreover, the business have to
face the threat of new entrants because this is the profitable business which will
attract the new entrants towards this business that will act as threat for
organisation. There is also high threat of the substitute products because there are
hotel, motels etc. which are providing the same services. The bargaining power of
the buyers is moderate because the buyers have more options available in the
industry for the accommodation purpose which will lead to increase in the
bargaining power of buyers for business. I have learned a lot with the help of this
research because it has provided me knowledge and understanding about the
hospitality industry and competitiveness existing in this industry as there is high
profitability involved which attract the large number of firms to enter this
business. Moreover, there are many customers attracted towards the business for
the accommodation while their stay in Malta because it is the tourist attraction
place where large number of customer are attracted.
Critical thinking and your
ideas
It is the most attractive and the budgeted accommodation company that
will provide the high quality services to the guest at affordable prices. The staff
members of the organisation will provide the customers with the bets experience
during their stay in Malta. Also, In have used the financial analysis for the
business to understand the profitability and the cash flow for the business firm to
establish the budgeted capital for which the set capital is determined it includes
the operation capital of 5000 euros and of average sized of 1200 square feet.
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According to my opinions, the accommodation is attractive due to the long term
let option provided by the firm because it will help in attractive not only the
tourist but also the local people residing in Malta. To fulfilled the nee and wants
of the customers' manpower is highly required that is the cleaner, security guard,
sweeper, waiters etc which requires wages and salaries and commissions which
will be around 500 euros. In the above context, for spreading the information
about the short term and long term letting of rooms the effective advertisements
and public relations I required which I have to decide to spend about the 300
euros on it. Revenue analysis is the major point in my business plan as revenue is
completely dependent on the seasons fluctuations a tourist attracted towards the
accommodation at the time of holidays which is generally winters and summers.
Major source of generating the revenue is the time of holidays for the families. So
the strategies swill be formulated according to the holidays and tourist
requirements for the scenes from the rooms. The rooms will be available to them
according to their requirements. Top floor rooms maintenance is high as they are
at the top from which the scene is beautiful of mountains and rivers whereas
rooms for ground floors requires less maintenance that is customers would be
charge according to the rooms they decide to Take found that the accommodation
of letting the rooms will increase the extraction on half yearly basis that is each of
the 6 months which is the best part of the complete year for YBDG.
For the purpose of differentiation from ability. The objective is been highly
creative and unique for the tourist as well. Malta is best known for the tourist
destination s they having the beautiful valleys, rivers and mountains. The
accommodation of YBDG is providing great bumper offers and discounts which
helps in attracting the more and more tourist to their company which helps in
satisfying the both the local , tourist and the company by earning good amount of
profit which helps in achieving their organisational goal. I also found that
business will attain the success with unique service facilities and attractive service
to the tourist and their customers.
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Barriers met For undertaking the research the number of tourist who are attracted at the Malta
it consumes lots of time and resources
Gathering the data which need top convert for obtaining the useful information
consumes energy and require participants and experts to whom companies has to
provide fees.
Thee is lack of time and resources
Wastage of resources including time, energy and financial resources.
Professional development As stated above, secondary data sources are used for conducting this research
such as scholarly articles, journals and articles in research paper, internet and also
sources from libraries. In my opinion, the secondary data saves time and efforts
and has their own validity and reliability and most importantly are easily
available. The secondary data enables to validate recent trade and could also be
observed and past data can be evaluated. Similarly,there is no requirement of
physical meeting as well as the information can be collected through postal means
as well as by email with particular response and also by reading journals and
articles in newspaper. I feel that this method will avoid bias and will help in
accomplishing definite and adequate results with least cost and would be easy for
administrative analysis. The secondary research is used as it considers collection,
summary and appropriate synthesise with application of data analysis for primary
research.
The key resources which I have selected for this accommodation are
physical, human and financial resources as these are replicated as backbone of
this business. It has been analysed that if the distribution of channel is not chosen
efficiently then this will indirectly affect the business and its success and will
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make it difficult for the company to sustain in the market.
In simple words, it could be elaborated that information about
accommodation services which allow both short term and long term let out with
the help of social media platforms, advertisements through bill board. In the
same series, there should be a follow up on addressing customer's feedback.
However, the most important element of business canvas model are cost structure
of the company and revenue stream as it has introduced high initial fixed cost but
everyone is a rational customer that needs accommodation in low price. Every
customer needs services in low prices that has quality. Customers want long term
and short term let out options at minimum cost which could not meet fixed cost of
company as they want it in minimum cost. So by considering this point I have
kept the cost of accommodation low.
Simultaneously, its main revenue originated with small let outs as often
people come tom Malta for holidays for which they need accommodation and
other services that create profit is long term let outs that are often used by people
when they need medication or they want to live in or people get transferred from
one state top another. The accommodation provided by our company is very clean
and efficient with sufficient rooms and kitchen and are available at good localities
of Malta.
With section of business plan, there is analysis of all business operations with all
the funds available according to the business requirement. I have estimated entire
cost and revenue generation of business over a particular period. The entire
business would be set up in 12 months as two months in the beginning would go
for market research of the business which will help me to know that the plan is
good or not, can it be successful or not, are there any new innovations and trends
going on, how is the area of locality is where I am thinking of making houses.
The other 2 months would focus on selecting the appropriate and prominent
location for the business sop that it can attract more and more customers and can
cover all the fixed cost of the business. Also, according to the area and
location the budget of the business will be finalized. After 4 months I will arrange
funds for the business from my retained earnings as well as loan from the bank.
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The next step is to have license to avoid any issues related to legal authorities.
The license requirement is mandatory and process of applying for license would
be started from April which will take approx 2 months to get processed. The form
would be filled will be applied in license office and then will be processed and
checked by government officials and then the license would be granted. It will
save the business from any unnecessary legal actions. In the month of may, the
place for accommodation would be bought by the business and will be renovated
according to the need of the business. The accommodation for short term will be
designed differently as well as accommodation for long term let out would be
designed differently with different designs ans services and flooring and
furnishing.
The work will be completed in July and then the accommodation would
be taken in lease to avoid depreciation cost. However the décor and interior of the
will start in august and which will need time in completion and will be ready at
the end of November. In November the website will be developed where
customers can see the rentals and can book the accommodation and all other
marketing channels like Facebook, Instagram will be used to put on
advertisements for accommodation. Also till December, people who will choose
short term rentals will be provided with food services which will increase profit
of the company. In December staff would be recruited which will be efficient in
working and will have good communication skills and in December end the
business will have grand opening and will start executing its operations.
Objectives The objective of the YBDG is to establish accommodation for letting long and
short lettings to those who are in requirement at the beautiful place at Malta. The
accommodation is basically launched foe the purpose of letting rooms to the
tourists as Malta is the attractive place for the tourist and they are primary
resource of revenue for the company.
Their main objective is to earn good amount of profit and in addition to this they
also ant to satisfy their neds and wants of the local as well as tourist as they are
able to afford the rooms than they will travel to Malta and want rooms which
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attract their interests and this can be done by promoting the company and its
rooms properly and effectively . It can be done by proper advertising either
through television, hoardings, internet and websites. The company main
objectives are tom accomplish the task and activities which satisfy the customers
needs and want and their requirements.
The another objective is to increment the accommodation with 30%.bye attracting
the tourist and local at their places. On the basis of the market and industry and
feasibility data , I have gathered the primary and secondary resources which are
required to generate the useful information from the data given which further
helps in taking the required decisions regarding the objective of the company
There is also th availability of the competitors who are located at nearby the
YBDG place who also provide the services which are required by the tourist that
is beautiful valley scenes from the rooms and comfort and luxurious service so
that the company needs to adopt the strategies for charging the prices which are
affordable by the customers and providing quality services to customers that they
can get attracted towards them instead of the competitors and as result they can
win over their competitors.
The company is aiming toward capturing the large market share in
accommodation service industry and wants to create a strong brand value in the
market and industry so that they can retain the customers for long run and can
earn good amount of higher profits and leads to further development in near
future.
The company adopting the development strategies which will leads the company
in development and future growth they aim to provide the most effective and
quality services to the customers like providing the hygienic environment by
letting them hygienic linens , bedsheets and bathrooms. They also provide the
health and safe foods to customers which satisfies them. The company also
focusing on providing the additional service to win over the competitors and the
additional service are customised interior if the tourist and travellers going to stay
fort long. The free swimming pool services in nearby resort once in a week and
additional services of free breakfast on Sundays which is good enough to attract
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the customers towards the company and to capture larger market share in the
service industry.
Findings & outcomes From consideration of the outcomes of the questionnaire I is found that tourist
respondents are higher than the traveller respondents. As tourist came malta for
enjoying their holidays and find the company services more attractive to enjoy the
holidays and weekends. In this study, the behaviour of the respondents can be
traced through the questionnaires and personal interactions though companies
sites. The customers' feedback also articulate that the have enjoyed the
accommodation services so well and wants to come back on next holidays which
is positive for the organisation to continue their strategies and policies regarding
the customers' retention. In the 50 respondents approx 35 respondents gave
positive feedback
Regarding the accommodation services and facilities available to them these
positive feedback helps an company in motivating them regarding their policies
and strategies they have been adopting for long. The outcome of the strategies are
achieved by the organisation and required cahnges can be made which by the
company and the structure of the changes can be ascertain by the negaticve
feedback and queries given by the customers and the necessary changes will help
organisation in achieving their future objective and goals and also help to capture
the larger share in the market of service industry.
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